How to Sell Your House in Poor Condition for a Profit in 2023
Last Updated: July 2023
Are you tired of looking at your sell house in poor condition and feeling like it’s a burden?
You’re not alone. Millions of homeowners in the UK are in the same boat. But it doesn’t have to be this way! There are ways to sell house fast in poor condition for a profit.
In this article, I’ll share some tips on how to target the right buyer pool, make necessary repairs, and choose the right selling method. By following these tips, you can increase your chances of selling your sell house in poor condition quickly and for a good price.
- Target the Correct Buyer Pool
- Be Smart about which Areas to Renovate
- Get the Easy Upgrades Done
- Focus on the Positives of your Home
- Be Honest about the Work Needed
- Price your Home Correctly
The first thing you need to do if you’re trying to sell a house that needs repairs or a fixer-upper house is to target the correct type of buyers, including traditional buyers who are interested in buying. These days you can get many types of buyers, some of which include:
- Flippers: These types of buyers will buy low – renovate the home and then sell it on for as much money as possible.
- Investors & Bargain Hunters: These buyers usually can’t afford a house in the area they want(for example, they may want to buy a specific house because a relative lives close by or a school they like is not too far from it). They will wait until a cheaper option appears and don’t mind taking on the renovation work if they get to live in an area of their choosing.
- Cash Buyers & Landlords: A Landlords main aim usually is to renovate a house good enough for rental purposes. Cash house buyers are willing to pay cash for your property, even if it is in poor condition. They often have experience renovating properties, so they are not daunted by the prospect of making repairs.
Below are 4 additional tips how to target the right buyer pool:
- Identify the buyer pool that is most likely to be interested in your property.
- Tailor your marketing materials to the needs of the buyer pool.
- Use the right keywords in your marketing materials.
- Network with other real estate professionals who specialize in selling fixer-uppers.
By following these tips, you can increase your chances of selling your house in poor condition to the right buyer pool for a profit.
Here are some tips on how to prioritize repairs and stay within budget:
- Start by creating a list of all the repairs that need to be made.
- Prioritize the repairs based on their importance and cost.
- Get estimates from several contractors before making any decisions.
- Be prepared to negotiate with contractors on the price of the repairs.
- Consider doing some of the repairs yourself to save money.
Here are some of the most important repairs that you should make before selling your house:
- Fix any structural damage.
- Repair any plumbing or electrical problems.
- Update the HVAC system.
- Replace any broken windows or doors.
- Paint the interior and exterior of the house.
- Clean up the yard.
By making these repairs, you can increase the value of your property and make it more attractive to buyers.
Even if your house is in poor condition, there are still some positives that you can focus on when marketing it to buyers. For example, you could highlight the following:
- The location: Is your house in a desirable neighborhood? Is it close to schools, shopping, or public transportation?
- The size: Is your house larger or smaller than other houses in the area?
- The layout: Is your house well-designed? Does it have a good flow?
- The amenities: Does your house have any special features, such as a pool, a hot tub, or a finished basement?
- The potential: If you’re selling to a cash buyer or investor, you could highlight the potential of the property. For example, you could point out that the house is in a good location for development or that it could be converted into a rental property.
What Comes Next?
So now that you’ve done what you can to your property to the best of your ability, what comes next?
Homeowners that are stuck with defective properties often ask questions like ‘how do I sell my run-down house‘ or ‘can I sell my house as is‘ and the quick answer is, of course, you can, but it depends heavily on the state of your property and level of investment that would be required to make it a fully functioning home again.
To put it in simpler terms, if your property is st
What Comes Next?
So now that you’ve done what you can to your property to the best of your ability, what comes next?
Homeowners that are stuck with defective properties often ask questions like ‘how do I sell my run-down house‘ or ‘can I sell my house as is‘ and the quick answer is, of course, you can, but it depends heavily on the state of your property and level of investment that would be required to make it a fully functioning home again.
To put it in simpler terms, if your property is in good condition, structurally sound and requires only cosmetic fixes and minor repairs, there is an excellent chance you will find buyers for it and can probably sell it on at a reasonable price.
However, suppose your house has structural issues; In that case, you can bet any potential buyer will get a survey done to determine the severity of the damage and then figure out if it’s worth investing their time and money into.
There are 4 ways you can go about selling a house in bad shape, and they are as follows.
Now let’s take a look at these 4 ways in a little more detail so you can decide which one one is the best way to sell house in bad condition. Be sure to do your research and pick the correct type of company that either has the experience and knows how to sell a house in poor condition or does not mind buying a property in this state.
1) Estate Agent Sale
Estate agents have been around for what seems like forever. You can bet most long-standing estate agents, including real estate agents, have had their fair share of defective & properties in poor condition to get rid of, so using one to sell yours is a good option.
Before you pick one, do some research. It’s vital that you find a reputable or even specialist estate agent (if your property is really ‘out of the box’) that will sell and market your house. Picking the wrong one could leave you more out of pocket than before, so be careful! Remember to seek expert advice before making a decision.
Also, don’t forget the additional fees estate agents charge for their services. Be sure to confirm these before signing on any documentation.
2) Private House Sale (FSBO)
Selling a house privately, also commonly referred to as for sale by owner (FSBO) basically means selling it yourself to an individual buyer; this is different to a company like Housebuyers4u that will buy your property without using a middleman (i.e. an estate agent or other entity). This is a great way to go about selling quirky homes or homes that require significant investment, as you will have more control over the buyers that view your property which allows you to highlight the stronger points of your property and stage property viewings more precisely. Additionally, selling a house privately can be beneficial if your property is in bad condition, as it gives you the opportunity to address any concerns directly with potential buyers.
In fact, you can potentially make more money from the sale because you are dealing with the buyer directly and don’t have to worry about additional third-party or estate agent fees. Additionally, having an accurate valuation of your property can help you determine the best asking price and attract potential buyers looking for a higher price.
That said, you will have to manage everything yourself, including listings, viewings, negotiations, conveyancing and much more. It can be very demanding, so if you choose this route, make sure you’re prepared.
3) Auction House Sale
If you’ve ever been to an auction house sale and looked at some of their listings, you are sure to have seen a wide range of properties, including run-down, defective, old, quirky and many more different types of houses.
Auction houses attract various house buyers, so it’s a great way to sell a property in poor condition in the UK.
As with estate agents, don’t forget that auction houses charge fees to go along with the sale of your home, so make sure you know what these fees are and how much you will be paying before proceeding!
4) Quick Sale Firms
These types of companies that buy houses are cash buyers who will make an offer for your home using their own funds. These firms generally offer below market value for a property, but many do not charge additional fees as estate agents and auction houses do.
British home buyers like Housebuyers4u, who are cash house buyers, use their own funds and even pay for surveys and guarantee to buy any house in any condition, so it’s well worth contacting them. In some cases, homeowners that sell their houses with quick sale firms end up making more overall profit than they would with an estate agent or an auction because their fees are so high or it takes much longer to sell up, resulting in additional costs!
Another bonus is that they can complete the sale of your home much quicker than an estate agent – sometimes within 7 days. This is because they buy the house with cash.
That said, there are rouge companies out there that claim to buy your house for cash but instead list it on websites like Rightmove/Zoopla and hope for a quick sale. This is why it’s imperative to research the company you plan to sell with to ensure they are legit.
Related: How to find a Cash Buyer for your House
Bonus Tip: Sell on Valuables Before Putting your House for Sale
Whichever method you choose to sell your house, one thing that many people forget to do is check through the house and see if there is worth keeping and selling later. You’d be surprised what people can sell on at auctions, and websites like Ebay, so don’t miss out on this chance to bag some extra cash with the sale of your home.
The Bottom Line
Selling a house in poor condition can be a challenge, but it is possible to sell it for a profit if you do your research and follow the tips in this article.
Patience is key to selling a house in poor condition. Your property is different, so finding the right buyer may take a little extra time. Try to banish thoughts like ‘my house is unsellable‘ as this will only make the process more challenging.
Another critical point is to thoroughly research your preferred method and company so you’re familiar with the whole selling process and know exactly what to expect. As the saying goes, ‘it’s better to be safe than sorry‘
Here are some key takeaways from the article:
- Target the right buyer pool: There are three main types of buyers who are interested in fixer-uppers: cash buyers, investors, and flippers. You need to understand the needs of each type of buyer in order to target them effectively.
- Focus on the positives of your home: Even if your house is in poor condition, there are still some positives that you can focus on when marketing it to buyers. Highlight the location, size, layout, amenities, and potential of your property.
- Be honest about the work needed: Buyers will appreciate your honesty about the condition of your home. Don’t try to hide any problems or make it seem like the house is in better shape than it actually is.
- Price your home correctly: It’s important to price your home competitively if you want to sell it quickly. However, you also don’t want to sell it for too low a price. Get an appraisal to get an idea of what your home is worth in its current condition.
We hope this article has been helpful. Good luck selling your house!
